The Effect of Shale Gas on the Global Energy Market
Webinar: October 8th, 9:30am - 10:30pm EST/ 15:30 - 16:30 Central European Time
American shale gas production has decreased energy prices and will make the United States a net exporter of natural gas by 2020. Shale gas has created jobs, lowered energy prices, and made US industry increasingly competitive.
This has profound effect on energy prices and industry worldwide. In Europe, where energy prices are now twice as high as in the US, industries report having a difficult time competing with companies that have access to significantly cheaper energy.
Considering the European Union’s strong commitment to environmental policy, as well as lack of necessary infrastructure, some EU leaders have been more cautious about following and exploiting shale gas in Europe. Others, such as Britain’s Prime Minister David Cameron, recently spoke to the European Commission in support of drilling for European shale gas among concerns of the high energy prices in the context of the global financial crisis. Even countries like Germany, a leader in the renewable energy industry, have been increasingly turning to coal because it is so much cheaper.
What have been the effects of shale gas on the global energy market? On industry?
How has shale gas affected energy and environmental policy? How will this affect global efforts to transition to renewable energy and reduce CO2 emissions?
What are the short and long term effects, considering natural gas is still a finite resource?
Taum Sauk Investments: Nancy Schmitt, President
Oxford Institute for Energy Studies: Howard Rogers, Director, Natural Gas Research Programme